Adultshop boss denies spruiking

Adultshop boss denies spruiking - The West Australian

Adultshop.com founder Malcolm Day, the man whose internet pornography company was at the centre of John Kizon's insider trading trial, has defended himself against accusations in court that he was an unprincipled share spruiker who cared only about getting ever richer.

A day after Mr Kizon and business partner Nigel Mansfield were cleared of conspiracy charges over their dealings in AdultShop 12 years ago, Mr Day told _The Weekend West _he knew the pair would beat the charges.

Mr Kizon and Mr Mansfield were acquitted on Thursday of a range of insider trading charges in a retrial of a case first brought by the Australian Crime Commission in 2004.

Mr Day featured prominently in the case because the accused pair were alleged to have illegally traded Adultshop.com shares on the back of information Mr Day gave them.

The court was told Mr Day talked up the company's profitability to inflate the stock price and referred to investors as "absolute donkeys" and "people who should pull their lip up over their head and suffocate themselves".

He was called "greedier than any person you would imagine".

"I haven't seen Mansfield for many years and don't often see John Kizon," Mr Day said yesterday. "If I do see Kizon out and about somewhere we usually have a brief chat.

"It's normally about boxing as we have a common interest in it."

Mr Day, who was not called as a witness despite his actions being central to the case, said he was upset he was denied the chance to defend himself on the stand.

"I was hoping to be called to testify for two reasons," he said.

"Firstly, I've always believed Kizon and Mansfield were innocent of all charges. Secondly, I wanted the opportunity to rebuke allegations I was a liar."

Mr Day said accusations he was a spruiker were unfair. "Communicating with investors can be challenging at times given the sensitivity of the topic and ensuring compliance of disclosure rules and obligations," he said.